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HSI lost 2057 points in February, and fell below 20000 points.
The Hong Kong market opened higher on Tuesday. Hang Seng index opened up 77 points, H share index up 18 points and technology index up 12 points. Financials and technology stocks r...
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HSI lost 2057 points in February, and fell below 20000 points.
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The Hong Kong market opened higher on Tuesday. Hang Seng index opened up 77 points, H share index up 18 points and technology index up 12 points. Financials and technology stocks rose. AIA rose 1.15% for 18-point gain. Meituan rose 1.54% for 16-point gain. HSBC rose 0.68% for 13-point gain. On the contrary, Alibaba lost 1.3% for 17-point loss. CM Bank lost 2.35% for 7-point loss to top the losers. Shanghai composite index opened up 11 points. The market rose sharply after opening, as Hang Seng index gained more than 200 points, to rise 242 points at the peak at 20185. AIA rose 2.5% for 39-point gain. Tencent rose 2% for 36-point gain. Meituan rose 2.24% for23-point gain. HSBC rose 1.3% for 24-point gain. China Mobile rose 1.9% f or 11-point gain. Xiaomi rose 2.54% for 9-point gain. Telecoms rose. China Unicom rose 5%. China Mobile rose 1.9%. China Telecom rose 4%. ZTE rose 4.5%. Xinyi Solar’s net profit fell 22%. Share price fell 8% to lead the losers. Xinyi Glass lost 3.13%. Xinyi Energy lost 6%. A shares closed the morning up 2 points. Hang Seng index closed the morning up 82 points. However, H share index closed down 6 points and technology index down 22 points. Turnover was $59.7 billion.

The market was little changed in the afternoon. Stocks traded within narrow ranges. Hang Seng index fluctuated between gain and loss. Alibaba lost 2.1% for 32-point loss. JD lost 2.3% for12-point loss. HK Exchanges lost 1.44% for 10-point loss. On the contrary, AIA rose 2% for 32-point gain. HSBC rose 0.9% for 17-point gain. China Mobile rose 2.35% for 13-point gain. Telecoms followed China Mobile higher. China Unicom rose 4% to lead the blue chips. China Telecom rose 3%. ZTE rose 5.2%. YOFC rose 5.9%. However, handset suppliers fell. Sunny Optical lost 3.8%. AAC lost 2.4%. Auto stocks fell. Geely lost 6%. BYD lost 3%. Nio lost 4.55%. Great Wall lost 6.5%. Some stocks traded wildly. Yuhua Education rose 19% but Cifi lost 14%. Mainland developers fell sharply. Country Garden lost 4.4%. Longfor lost 3.4%. Logan lost 4.2%. KWG lost 4.6%. R & F lost 4.5%. Technology stocks fell sharply. Bili Bili lost 6.4%. Kuaishou lost 4.1%. Ming Yuan Cloud lost 2.75%. PA Good Doctor lost 2.7%. The market fell further in midafternoon, as Hang Seng index lost 160 points. Alibaba lost 3.2% for 50-point loss. JD lost 3.4% for 17-point loss. Shanghai composite index closed up 19 points. HK Exchanges lost 1.82% for 12-point loss. A shares closed up 21 points. Hang Seng index closed down 157 points, H share index down 88 points and technology index down 64 points. Turnover was $142.5 billion. For the month of February, HSI lost 2057 points; H share index lost 844 points and technology index lost 617 points.

Overnight, overseas markets fell. DAX lost 16 points. CAC lost 27 points and FTSE lost 59 points. Dow Jones lost 232 points. S & P lost 11 points and Nasdaq lost 12 points. Hong Kong ADR’s rose 49 points. Night future rose 118 points. We expect the market to rebound today.
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